Ranald Michie - The City of London as a Global Financial Centre

Prof Ranald Michie, a leader of the Tipping Points project based at Durham University's Institute of Hazard, Risk and Resilience presents the history of London as a global financial centre before and after the 2007-08 banking crisis and subsequent euro debt crisis. He explains how London became the global financial centre it is today. He also talks about tipping points in the financial system along with similar events known as 'titanic moments' that are sudden and dramatic, but change nothing historically. As a financial historian, Prof Michie asks whether past experience can provide a useful guide for the future in mitigating or preparing for future banking crises.